Welcome to our dedicated page for United Fire Group news (Ticker: UFCS), a resource for investors and traders seeking the latest updates and insights on United Fire Group stock.
United Fire Group, Inc. (UFCS) generates a steady flow of news as a publicly traded property and casualty insurance holding company headquartered in Iowa. Through its United Fire & Casualty Group subsidiaries, the company writes property and casualty insurance and reports its financial and strategic developments to investors and regulators.
News coverage for UFCS frequently centers on quarterly and annual earnings releases. These reports detail net income, net written and earned premiums, combined ratio, loss ratios, underwriting expense ratio, catastrophe loss ratio, and non-GAAP measures such as underlying combined ratio and adjusted operating income. They also provide commentary on pricing, loss trends, catastrophe activity and investment income, giving readers insight into the company’s underwriting and investment performance.
Another recurring category of news involves dividend declarations. United Fire Group issues press releases when its board of directors declares quarterly cash dividends, and these announcements highlight the company’s long record of consecutive quarterly dividend payments dating back to March 1968.
Investors can also expect earnings call announcements, where the company provides dial-in and webcast details for conference calls discussing recent results. In addition, capital management and financing updates, such as the issuance of senior unsecured notes under a note purchase agreement, are disclosed through dedicated news releases.
Governance and ratings-related items appear as well, including board appointments and AM Best rating affirmations for United Fire & Casualty Group and its subsidiaries. Together, these news categories offer a view into United Fire Group’s financial performance, capital structure, governance and credit profile. Bookmark this page to access the latest UFCS earnings releases, dividend announcements, rating updates and other company communications as they are published.
United Fire Group, Inc. (Nasdaq: UFCS) announced the appointment of Mark Green and Matthew Foran as new independent directors to its Board, effective February 18, 2022. Green, with a strong background in insurance, previously held executive roles at Kemper Corporation and Allstate. Foran, co-founder of Stoic Lane, Inc., brings significant experience in insurance technology. Both will stand for shareholder election at the Annual Meeting on May 18, 2022. Additionally, several individuals were appointed as assistant vice presidents, strengthening the company's leadership team.
United Fire Group announced the retirement of CEO Randy Ramlo effective October 31, 2022, after 15 years in the role. Ramlo joined UFG in 1984 and has been pivotal in the company's growth and strategic direction. He will remain until a successor is appointed and will assist in the transition process.
UFG, founded in 1946, specializes in property and casualty insurance, operating in all 50 states and Washington, D.C. The company is rated 'A' (Excellent) by A.M. Best.
The Board of Directors of United Fire Group (UFCS) has declared a quarterly cash dividend of $0.15 per share, payable on March 18, 2022, to shareholders of record as of March 4, 2022. This marks the company's 216th consecutive quarterly dividend since its inception in March 1968. UFG, founded in 1946, specializes in property and casualty insurance across the United States and has received an A (Excellent) rating from A.M. Best Company.
United Fire Group (Nasdaq: UFCS) reported strong financial results for Q4 and the full year 2021. Net income for Q4 reached $57.7 million ($2.28 per share), recovering from a loss of $8.9 million in Q4 2020. For the full year, net income was $80.6 million ($3.16 per share), compared to a significant loss of $112.7 million in 2020. The combined ratio improved to 83.1% in Q4, marking the lowest in over 14 years. Despite a strategic focus leading to an 8.9% decrease in net premiums earned, the company achieved an average renewal pricing increase of 6.4% for the year. Overall, UFG saw positive trends in profitability and reserve development.
United Fire Group (UFCS) announces the retirement of Neal Scharmer, Vice President, General Counsel, effective March 31, 2022, after over 40 years in law, with more than 20 years in his current role. Scharmer, who joined UFG in 1995, played a crucial role in guiding the company through litigation, acquisitions, and natural disasters. Sarah Madsen has been promoted to Chief Legal Officer, also effective March 31, 2022. Madsen, a former Assistant General Counsel, has enhanced UFG's operations and will oversee legal and compliance matters moving forward.
Mary K. Quass will retire from the Board of Directors of United Fire Group (UFCS) effective immediately after the Annual Meeting of Shareholders on May 18, 2022. Her resignation complies with UFG's bylaws regarding directors reaching the age of 72. UFG President and CEO Randy Ramlo acknowledged her strong leadership and contributions over the last decade, particularly as chair of the compensation committee. Board Chairman James Noyce also commended her invaluable experience. UFG has been writing property and casualty insurance since 1946, rated 'A' by A.M. Best.
United Fire Group will release its 2021 fourth quarter and year-end earnings results on February 15, 2022, before market opening. An earnings call is scheduled for 9:00 a.m. CT on the same day, allowing stakeholders to hear from management regarding these results. The call will be accessible via a toll-free number and will be archived for playback until March 1, 2022. Founded in 1946, UFG is a property and casualty insurer licensed in all 50 states and rated A (Excellent) by A.M. Best.
AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and Long-Term Issuer Credit Rating (ICR) of 'a' (Excellent) for United Fire Group (UFCS) and its property/casualty subsidiaries, indicating strong balance sheet strength. However, the outlook for these ratings is negative, reflecting execution risks in their strategic plan to enhance operational performance amidst competitive conditions. Key factors include solid risk-adjusted capitalization and diversified products, offset by variability in underwriting results and exposure to catastrophe events.
United Fire Group (Nasdaq: UFCS) has declared a quarterly cash dividend of $0.15 per share, to be paid on December 17, 2021, to shareholders of record as of December 3, 2021. This marks the company's 215th consecutive quarterly dividend, reflecting its strong commitment to returning value to shareholders since March 1968. UFG operates in the property and casualty insurance industry and is licensed in 50 states and the District of Columbia, maintaining a rating of A (Excellent) from A.M. Best Company.
United Fire Group reported a net loss of $9.6 million ($0.38 per diluted share) for Q3 2021, an improvement from a loss of $37.2 million in Q3 2020. Year-to-date, net income reached $22.9 million ($0.90 per diluted share), significantly up from a loss of $103.8 million in 2020. The GAAP combined ratio decreased to 109.7% from 124.4%. Despite lower net premiums earned, net investment income rose to $11.6 million, up from $7.2 million. The company declared a $0.15 per share dividend and repurchased 36,417 shares.